Sink hole repaired - comments ????

[Josh Shapiro]

I have a property where it had a sink hole. Completely repaired and filled in. Home has been completely remodeled since. Should i check box 4 this for a Certificate of Occupancy or for someone else to check off on. Or just note it in the report that no proof of repair was supplied and make an EA.

 

[Wally Jones]

I would give that liability to a professional. Make the report subject to inspection by a structural engineer and/or geologist. I've lived in Florida all my life and have yet to see a sinkhole "repaired". Mama nature has a mind of her own. The underwriter can decide how much liability THEY want.

 

[DB]

That was going to be my question ... how do you repair a sinkhole? Every one I have ever seen didn't HAVE a bottom ...

Any "repair" would be temporary, at best ...

 

[Joker]

Ditto the other Doug. Our farm has several sinkholes. They continue to sink and further expand over time.

 

[Couch Potato]

CB4 is the only way to make the extraordinary assumption within FNMA guidelines, and yes that is what you want to use. It is possible to successfully repair a sinkhole problem, but the way things are handled here in FL it may or may not have been done properly for the house you are appraising.

Local TV did a nice special on the subject recently regarding how a particular house had 3 claims in three years for sink hole damage. Each time the insurance company provided sufficient funds to do the job correctly, but each time the homeowner got repairs done on the cheap and pocketed the extra money. The story explained how it was all perfectly legal under existing laws.

You do not want to be on the hook for this in any way, shape or form.

 

[Josh Shapiro]

Ok. Now that I have all the documents stating the name of the company that did the work and THEIR CERT that it is repaired. I still should do a check box 4. Yes/No. Or should I just scan and include these docks and be done with it with an EA that they are good. Or-------If I already have the docs and Certs, do I still CB4 it for someone elses opinion. In that case, who's opinion am I looking for.

Ok i think I understand, CB4 for the dcos and let the underwriter look at them themselves.

 

[wyecoyote]

The certification you have in hand right now is from an engineer or geoligist? If so I would consider them to be superior to an appraiser in making an determination. I would scan the docs and certs into the report and state that there was a sink hole and per "XX at XX" it has been repaired. That way you disclose it and put it out there that someone other than yourself has made the determination.

I look at it similar to if I call for a dry rot inspection and an inspector says dry rot in these places or no dry rot. Who is more capable of saying yes or no the other inspector.

 

[Webbed Feet]

Ok. Now that I have all the documents stating the name of the company that did the work and THEIR CERT that it is repaired. I still should do a check box 4. Yes/No. Or should I just scan and include these docks and be done with it with an EA that they are good. Or-------If I already have the docs and Certs, do I still CB4 it for someone elses opinion. In that case, who's opinion am I looking for.

Ok i think I understand, CB4 for the dcos and let the underwriter look at them themselves.

Mr. Shapiro,

Mr. Myers' sounds like one wise fellow to me. .. You need to ask yourself if you want to stake a CB1 "As-Is" value conclusion on your viewing of some other expert's report? I would feel if an expert report is already available, then no harm in my using CB4 now is there? The client and borrower both already have a "expert" inspection to turn into underwriting. If UWing is willing to take that to satisify the inspection requirement that is UW's call.

CB4 ... "Inspection by a qualified expert in the field regarding this sink hole issue." No one involved should have a complaint as they already have an inspection. If they do complain wanting you to take responsibility for what that inspection says by "scanning in the report" and using CB1 I would question their reasons for that myself. By the way, I highlighted what you said above in red because I would like you to go back and read the S.o.W. on the 03/2005 form you are using and then come back to the forum and tell us how you intend to add that EA you are talking about if you do NOT use CB4 .... Or are you taking this report off of the 03/2005 forms and using some other form type that allows additional EA's to be added with permission from your client to do so under some other S.o.W.?

Barry Dayton